Rum Global Market Navigating Trends, Share Report, Growth Drivers, Market Size And Future Outlook 2024-2033 | Diageo PLC, Pernod Ricard, Radico Khaitan, LT Group Inc., Beluga Group

"The new report published by The Business Research Company, titled Rum Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the rum market size has grown strongly in recent years. It will grow from $13.94 billion in 2023 to $14.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The rum market size is expected to see strong growth in the next few years. It will grow to $18.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.

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Rising Consumer Disposable Incomes Fueling Robust Growth In The Rum Market
The growing consumer disposable earnings are expected to propel the growth of the rum market in the coming years. Disposable income or disposable earnings, often known as disposable personal income (DPI), is the sum of cash accessible to an individual or household after income taxes have been subtracted. Disposable income is a major factor influencing alcohol consumption. Increased disposable income increases rum consumption and boosts the market. For instance, according to the Bureau of Economic Analysis of the US Department of Commerce, a US-based governmental organization that publishes official macroeconomic and sectoral statistics, in the USA, disposable personal income in January 2023 increased to $387.4 billion, a 2.0% increase compared to December 2022. Therefore, growing consumer disposable earnings are driving the rum market.

Innovation Takes Center Stage As Rum Market Leaders Introduce Premium Offerings
Product innovation is the key trend gaining popularity in the rum market. Major companies operating in the rum market are focused on developing innovative products to strengthen their position in the market. For instance, in March 2023, Bacardi Limited, a US-based privately held, family-run spirits firm launched Bacardí Caribbean Spiced rum, which is the brand's first premium spiced aged product. The heavy-aged rum foundation, which offers the strong smokey flavors of molasses, and the light-aged rum base, together with the mixing of coconut blossom sugar, pineapple, and coconut water, are both used in the Bacardi process to make the Caribbean Spiced rum. Cinnamon and vanilla are also added to the spirit after it has been rested and filtered, followed by another pause and a second polishing filter for transparency and color.

The rum market covered in this report is segmented -
1) By Rum Type: White Rum, Gold Rum, Dark Rum, Spiced Rum, Other Rums
2) By Nature: Organic Rum, Conventional Rum
3) By Distribution Channel: Offline Trading, Online Trading

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Major companies operating in the rum market report are Bacardi and Company Ltd., Diageo PLC, Pernod Ricard, Radico Khaitan, LT Group Inc., Suntory Holdings Ltd, Davide Campari-Milano N.V., Edrington, La Martiniquaise, Remy Cointreau Group, Shanghai Rum Lift Co. Ltd, Shandong Yuncheng Ruisheng Glass Co. Ltd, Kweichow Moutai Co. Ltd., Rum Co. of Fiji, Beenleigh Artisan Distillery, Plantation Rum, Pusser's Rum, The Kraken Rum, Neptune Rm, Duppy Share, Beluga Group, JSC Ussuriyskiy Balsam, Podlaska Wytwórnia Wódek, Polmos S.A., Polmos Łańcut, Bayadera Group, Obolon, Deadhead Rum, Ten-to-One, Wilderness Trail Distillery, Richland Rum, Siesta Key Rum, Ron Santa Teresa, Cachaça Leblonare, Destilerías Unidas S.A., Diplomático Rum, Accolade Wines, Halewood International Limited

Contents of the report:
1. Executive Summary
2. Rum Market Report Structure
3. Rum Market Trends And Strategies
4. Rum Market - Macro Economic Scenario
5. Rum Market Size And Growth
…..
27. Rum Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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